[JSantos]

I’m just getting into studying the taxation chapters for REG to take in April, and I’m using the Bisk books/software, 38th edition for 2009-2010. All of the tax codes referenced in my books are for 2008. Can anyone tell me what year’s tax codes will be tested in this Apr/May 2010 window? Thanks.

[kris]

JSantos –

I took reg in Feb. I think if you look at 2008 tax codes, you should be alright. A coworker told me that the test is usually 6mo to 1 yr behind. I went to the IRS website and looked at “what's new” for business/individual. I think you should understand the concepts and the ball park the figures are in. What's nice about tax, the rates/deductions/credits, don't change drastically. So be familiar with 08 and 09. I didn't feel that I needed to memorize them. So, I think if you are prepared, you should be able to pull the correct amount. Good Luck

[Anonymous]

The casualty loss deduction changed from $100 to $500 per loss. The only other thing I can think of would be the gift deduction amount has changed in recent years.

[Author]

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